1. Market Review
The current price is fluctuating around 59366 USDT. From the four-hour chart, the market shows a continuous upward fluctuation and returns to the upper track of the Bollinger Band. The short-term trend has entered a stalemate and oscillation state, and the current market direction is relatively unclear.
2. Technical Analysis
Four-hour chart: Bitcoin fluctuates upward with consecutive positive lines in the four-hour chart, and returns to the upper track of the Bollinger Band. The short-term trend has entered a stalemate and it is not sure whether it is currently preparing to break or brewing a reversal. After repeated tug-of-war, the direction is blurred, just like seeing flowers in the fog.
Hourly chart: In the hourly chart, Bitcoin has always been blocked at the middle axis after the downward exploration, and quickly rebounded to regain lost ground, and is currently in a neutral position in the range. The short-term trend is still a volatile one, and we need to pay close attention to market trends.
Daily level: At the daily level, the price is still under the pressure of the daily EMA15 moving average. The intraday upward shock did not break through this suppression area, and it fell back after a false probe. The EMA15 moving average and the central axis remain parallel downward. If there is no effective breakthrough and stabilization in the future market, the general trend remains unchanged and it is expected to continue to maintain shock consolidation.
3. Support and resistance levels
Upper resistance level: 59600 USDT
Support level below: 57500 USDT, 56500 USDT
4. Trading strategy
Short order strategy:
Entry point: Pay attention to the 58900-59100 USDT area above. If it rebounds to this area, you can consider entering a short position.
Defensive point: 60200 USDT to cover the position, stop loss 60700 USDT.
Target point: The take-profit target is in the 57700-56900 USDT area. If the price falls below 56500 USDT, you can continue to hold.
Long order strategy:
Entry point: Pay attention to the 56500 USDT area below and enter the market with a light long position.
Defensive point: 55300 USDT to cover the position, stop loss 54900 USDT.
Target point: The specific target point needs to be adjusted flexibly according to market trends.
Market sentiment and mentality management
Stay rational: Stay rational during trading and avoid emotional operations due to market fluctuations.
Make a plan: Make a detailed trading plan and strictly follow it to avoid disorganized operations.
Control your position: Control your position reasonably to avoid large losses caused by heavy positions.
Flexible response: When unexpected situations occur in the market, flexibly adjust strategies to avoid losses caused by stubborn positions.
in conclusion
Bitcoin is currently in a period of consolidation. In the short term, we need to pay attention to the resistance level of 59,600 USDT above and the support level of 57,500 USDT below. If the resistance level can be effectively broken, it is expected to rise further to around 60,000 USDT in the future. However, we need to be wary of possible technical corrections in the short term. Investors should pay close attention to market dynamics and adjust their investment strategies reasonably.
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